کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5067581 | 1372606 | 2006 | 27 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
International interdependencies in fiscal stabilization policies
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Trade links imply that business cycle fluctuations are transmitted among trade partners. To the extent that fiscal policy can mitigate business cycle fluctuations international interdependencies in stabilization policies arise. We analyse in a two country general equilibrium model the role of fiscal policy in mitigating risk or providing implicit insurance in the presence of capital market imperfections and adjustment failures (rigid wages). It is shown that there is a welfare case for an active stabilization policy, and that it is larger in the presence of adjustment failures (rigid wages). Non-cooperative policy decisions imply inefficiencies in fiscal stabilization policies, which in the case of flexible wages may imply too much stabilization, whereas stabilization is always insufficient in the case of rigid wages.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: European Economic Review - Volume 50, Issue 5, July 2006, Pages 1169-1195
Journal: European Economic Review - Volume 50, Issue 5, July 2006, Pages 1169-1195
نویسندگان
Torben M. Andersen, Morten Spange,